Peering Into Paylocity Holding's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Paylocity Holding's (NYSE:PCTY) short interest has increased by 23.24% since the last report, with 2.21 million shares sold short, representing 5.78% of its float. It would take about 4.55 days to cover all short positions. This rise in short interest could indicate a more bearish market sentiment towards PCTY, although it's higher than its peer group average of 5.31% short interest as a percentage of float.
February 19, 2024 | 6:15 pm
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Paylocity Holding's short interest has increased significantly, indicating a bearish sentiment among investors. However, this could also suggest potential for a short squeeze if the stock moves positively.
The increase in short interest suggests that investors are more bearish on PCTY, potentially leading to downward pressure on the stock price in the short term. However, high short interest can also lead to a short squeeze if the stock were to rise, causing rapid price increases as short sellers cover their positions.
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